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Construction spending down 1.3 percent in July

By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — Builders cut back on spending by the largest amount in six months in July with sharp reductions in outlays for government building projects. Construction spending fell 1.3 percent to a seasonally adjusted annual rate of $789.5 billion, the Commerce Department reported Thursday. That is 3.5 percent above an 11-year low ...

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